I don't know if all schools use the efc the exact same way, but my limited understanding is that figure is kind of what you would be expected to give towards the cost of the education, but is an indexed number, not an exact dollar representation of what you expected contribution would be. But then supposedly the school takes the cost of going to their institution, subtracts that efc figure from it, and the result is the financial aid you would need. The school then creates an aid package based upon that amount. But if this is really how it works, then to me they are using it as a dollar figure really.
